Do Not Miss to Check These Qualities in Online Payment Providers for your High-Risk Business

Every high-risk merchant is worried about payment processing, as it directly connects to the safety of the customer’s money. Only daily basis, millions of transactions take place and it is vital that money transactions between the customer and the merchant should happen safely. Not only this, the businesses have to pay for many other things. Other service providers, vendors, partners, etc., to pay everyone, a merchant needs a safer transaction platform.

The online payment providers can make it happen but before that, a merchant needs to choose the right one. But how to choose the best one? Well, some qualities authenticate the services of a payment service provider.  You should know about them if you also own a business that belongs to a high-risk industry.

Multiple payment methods should be a vital feature

No need to explain more about this point, as every high-risk merchant understands the importance of having multiple payment methods. The customers may want to pay from any mode whether it is an e-wallet, mobile payments, online payments, cryptocurrency, etc.  

A merchant should consider only those online payment providers that can offer multiple modes of payment. Businesses need to reach new nations and regions of the world for expansion. If in a country, people prefer a specific type of payment method, the merchant needs to get it installed on his website.  

Split payments for multiple purposes

Merchants need to pay for multiple purposes besides their transactions with customers. It is better if they can manage all sorts of payments on the same platform. It is the reason that a high-risk merchant should always consider a payment provider that can help to pay for multiple purposes.

Complete varied payment actions from one place. Get paid from customers, schedule payments to vendors, deduct commissions, pay to other service providers and delivery partners, and so on. Versatile payment processing companies always have this feature, which in turn supports business growth.

Flexible and easy refund management

It is always a complicated task to refund the money of a customer, especially in case of a chargeback. Your online payment provider should have a flexible and smart and simpler system to manage the refunds. EskayPay, a new era online payment provider makes it happen for you and every merchant. Just mention the refund amount and click and the money will reach the customer in the shortest possible time.

Chargeback management strategy should also be a part of the refund management system. A business that delays in refunds is always notorious and easily loses hold on its customers even on the potential ones. If you do not want this to happen to your business then confirm with your payment provider in advance about a sound refund system.

Automatic reconciliation with powerful APIs

Payment provider companies with the latest features always use automation for reconciliation. Reconcile all payments, settlements, and refunds with the help of advanced APIs that ensure timely completion of a transaction. See the latest status after every payment such as ‘success’, ‘pending’ etc., and take necessary actions immediately.

The online payment provider should also be able to serve you on time. Get in touch with the customer support team without any delay. Every minute is precious and the customer or any other party in the payment process should not stay confused about a transaction. It can be harmful for the goodwill of your business.

Dynamic routing to switch transactions between banks

Online payment providers nowadays have a dynamic system of switching transactions to the banks with faster speed. It works in real-time to improve the customer experience of a business. For example – when a transaction happens the automatic system spots the bank that can make it happen faster.

In case of any delay from a particular acquiring bank, the payment provider’s system switches the transaction and completes it through the other acquirer. It directs the money transfer process to another bank with less or no load on the bank’s server. It has become the need of the hour and all online payment provider companies are already working on this part.

EskayPay has everything you need in online payment

EskayPay , is a name among the renowned online payment providers with all the above features and we have served many high-risk merchants. Forex, online gaming, casinos, adult entertainment, IPTV , you name it and we have a client list to provide.

If you are really looking for a spot to get the smartest online payment provider then we are more than happy to do it for you. Do not worry about your experience, as we give only compromised services to our clients.

Conclusion

You as a high-risk merchant should always know the best qualities of an online payment provider. The above ones reveal the practical traits of payment processing companies, especially for businesses with risky industries. The higher volume and strict laws make daily operations a challenging job for business owners. In such circumstances, it becomes even more important not to let any flaw cause harm to money transactions. Risky businesses easily get the blame for fraud and thus they have to be on their toes when it comes to the safety of online payments. Isn’t it?

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Tags : International Payment Gateway, High Risk Merchant Account, Payment Gateway Provider UK

Why do IPTV Businesses Sepend so Much on Payment Gateway Services?

Businesses are of three types when it comes to risk factors they have, low-risk business, medium-risk business, high-risk business. The high-risk ones need to have a different platform to get paid from their customers due to many reasons. An IPTV business is a high-risk business. This blog is all about the factors that make such businesses depend on an IPTV payment gateway.

What is IPTV and what does it serve?

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IPTV stands for Internet Protocol Television, which delivers television content through the internet protocol network. It is different from the traditional satellite, terrestrial, and cable television.

Reasons that make an IPTV business depend on payment gateways

IPTV businesses are high-risk and banks don’t provide them payment gateways

An IPTV business is affected by all the factors that bring it into the category of high-risk business. It is very difficult for the merchants to find a payment processing company and also a merchant account. Nowadays, payment processing providers connect high-risk companies to acquiring banks that offer merchant accounts. These accounts are required because the banks do not let the high-risk businesses receive customer payments in their banks. Read here what makes the internet protocol television industry high-risk.

  • A higher number of chargebacks
  • Prone to fraud and friendly-fraud
  • A high volume of daily transactions (minimum dollar 1 00, 000 monthly)
  • Businesses in countries that have higher chargeback rates.
  • New IPTV businesses with little or no credit card processing history
  • Bad credit history of the business owner or the business.

Traditional banks and financial services hesitate to work with IPTV companies

The IPTV customers can be international because such companies give their services beyond the geographical limits. The users pay in their currency but the merchant who belongs to a certain nation may need the funds in his currency.

The money converted into the desired currency by the acquiring bank smoothly reaches the merchant without any delay. Security concerns are also solved by the payment gateway providers. Due to this facility, businesses can withdraw their money in the least possible time because speedy services are provided by the payment processing companies.

EskayPay, the international payment gateway provider has worked with many clients from the IPTV industry. We have decided rules for the customer benefits and with multiple features in our payment gateway services we provide only the best to the merchants. Here are some of the major features that make our services versatile.

  • Customer support 24×7 — Although, our services are flawless and merchants hardly get into any technical issues. But we understand the insecurities of a high-risk business and know how to manage them. Whether it is a payment processing issue or the withdrawal uncertainties to the merchants, our support is always ready. We never leave you helpless when you need us.
  • Successful chargeback management — We bet that our chargeback management strategy is among the best ones in the industry. Our clients can explain it well. Merchants always need a helping hand to manage their chargeback issues. Our in-built fraud detection system makes the customers feel secure also we help merchants blacklist the accounts that make friendly fraud.

Conclusion

The above aspects show that an IPTV business cannot operate smoothly without the payment gateway services. It is all mutual as all the three, that is, the merchant, the payment gateway provider, and the acquirer depend on each other. The payment provider and the bank get their fee in return for their services. On the other hand, the IPTV merchant gets a smooth platform to operate and earn profit.

Tags : Global Merchant Account, Offshore Payment Gateway, Gaming Merchant Account, Casino Merchant Account

Originally published at https://eskaypay.com on March 15, 2022.

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